the rodeo the diet. candidates kick off their official campaigns. people across japan are hearing some familiar sounds through their windows. candidates who want a seat in the lower house of the diet are filing the necessary paper work to launch their campaigns. they have loaded up vans an mounted speakers on them to share their messages with voters. 480 seats are up for grabs in the election later this month. that breaks down to 300 single seats and 180 proportional seats. the democratic party took part
in 2009. candidates will outline their view on how to right the japanese economy. they'll outline they're vision for how to supply the country's energy need after the nuclear disaster in fukushima. the official campaign lasts 12 days. voters head to the polls on sunday, december 16th. there's another launch of long rang ballistic miss. >> caller:. there mi missile. north korean officials say the launch will happen between december 10th and 22nd be the rocket will head south. may that he had similar preparations in april. that launch ended in failure.
they've given their schedule and planned trajectory to the u.n. in charge of maritime safety. officials with the international maritime organization say the north koreans pn to launch twee 7:00 a.m. and noon local time. the first stage of a three stage missile is expected to fall in the yellow seat west of south korea. the second is expected to land east of the philippines. alerts to shipping companies have been issued. government officials in seoul have seen the scenario before.
foreign ministry officials met separately with envoys from japan, the united states, china and russia. it's believed they discussed ways to cancel the launch. the ships have technology to track missiles. they're also considering raising the country's alert status by one notch. euro zone finance ministers approved a loan just last week. now the greeks have announced one way they will use the funds. what's the latest? >> one of the requirements for greek receiving the bailout fund is they cut down their debt.
they will buy back government bonds a t a discount. greek officials said on monday they will purchase the bonds from private financial institutions. they will pay 30 to 40% of the original price before the bonds mature. the announcement came a week after euro zone finance ministers agreed to offer 43.7 billion euros. that's about $57 billion. greek officials said the critor institutions will receive bonds issued by the euro zone's bail out fund instead of cash. the buy back program is a condition leaders must fulfill to receive the next cash infusion. the success depends on the bond holders. finance chiefs met in brussels to discuss how to proceed with
extending eight degrees. euro president said the region's financial authorities will monitor greece's bond buying back program. he says the finance ministers will sign off in the next round of loans t greece wn they meet again on december 13th. the ministers also talked about spain. they decided to provide up to nearly $40 billion euros. they're decision came after the bailout fund to sure up its constituti institutions. the nikkei average at 9,434. that's a loss of one-fourth of a percent.
the dollar is slightly losing ground. dollar yen changing hands at 82.13 to 17. euro stands at 107.19 to 24. analysts say investors are selling the dollar following the release of u.s. manufacturing data. it was the lowest in almost three and a half years. more investors are showing interest in the weakening yen. taking a look at other markets, south korea's kospi is trading lower. let's take a look at australia. it's trading lower by almost a third of a percent. there's hope for floundering bas bas basic electronics firm sharp.
the firm is expected to receive part of the that sum as early as this month. sharp is forecasting a record net loss for the current fiscal year of $5.5 billion. that's due to the slump in its main tv and crystal liquid sectors. strengthening its financials is essential if the firm will have hope for its business. the two companies plan to develop next generations screens. sharp's expertise will help provide qualcomm with high panels. they are developing the screens for smart phones. media mogul rert murdoch will
split into two corporations next year. under the plan announced on monday the reorganized news corporation will manage newspapers and other publications. a new group will focus on entertainment including tv and movies. the decision to split comes after a phone hacking scandal at e of murdoch's newspapers in britain last year. murdoch is expected to maintain firm control over the new companies. he plans to manage fox group as chief executive and serve as chairman for both firms. that's the latest in business for this hour.
here is a look again at markets. investigato are trying to understand why highway tunnel near tokyo collapsed. panels gave way trapping people inside. nine people were killed. the accident happened sunday morning along a highway connecting tokyo to other parts of central japan. operators say both holding up concrete panels on the ceiling may have been defective.
more than 300 panels fell. the debris covered a distance of more than 100 meters. three vehicles were trapped inside. firefighters say all three were buried. the tunnel was built in 1977 but no records exist of workers replacing the bolts and hooks that hold up the ceiling. meters ofpace between theive tuels and the top of the tunnel. it allows for air to flow in and out. metal fittings attached to the side of the tunnels and to the tunnels dome shapes top.
each opportunity is 1.2 meters wide. they weigh about a ton. both are used to support the weight. the bolts are 23 centimeters long and embedded into the top of the tunnel. inspectors only did only a visual check. >> we regret we didn't check the parts and bolts at the tunnel by knocking them even though they are located high up. >> reporter: there's no record of workers repairing or replacing any bolts since the tunnel opened in 1977.
experts say every part matters to maintaining the integrity of a structure. >> translator: even such a small part, i mean, bolts, caused this serious accident. i think the operators should review what they're doing to maintain safety. >> reporter: officials say 12 tunnels across the country have the same structure as the one that collapsed. the government has ordered inspections. japan has more than 350 tunnels that are 30 years or older. experts say operators must check all of the structures to make sure they are safe.
. south koreans head to the polls to pick their new candidate. the population is graying fast and many of the elderly are struggling to survive. >> reporter: people in many major cities have to weed through the crowds in the morning rush hour. kim does that in seoul every day. he gets on the subway with a chart weighing 50 kilograms. he's 73 years old. kim earns around $600 a month delivering parcels all over the city. >> translator: this job means a lot to me financially. i will have to find another one if i lose it. >> reporter: elderly who live in urban centers provide a lot of similar services. they say they're happy just to have a job.
south korea introduced the public pension system 13 years ago. people who paid into it for at least ten years receive a pension. but just under a third of the population age 65 and above have managed to contribute. they earn an average of about $275, but most have to keep working. some elderly live in rural areas and are pushed to their limits. this is the intensive care unit for people struggling with pesticide abuse. it launched last year in response to growing elderly patients trying to end their lives by drinking the poison. doctors say 95% of the patients arrive after attempting suicide.
>> translator: it used to be rare for people in their 80s and 90s to take their own lives. but the number of such cases is on the rise. most are connected with financial issues. >> reporter: statistics show many suicides occur in farming communities. many seniors work their land. pesticides are always in close reach. two years ago, officials at the local mental health center started placing what they call a pesticide safety box outside the homes of elderly people. the idea is to keep the pesticides locked up and out of sight. the officials visit at least once a month. they go over safety instructions and make sure all the poison is where it should be. and they set up a telephone hotline so that seniors in
trouble could talk to someone at any hour. >> translator: i live here alone. the officials occasionally pop in to say hi. i feel like they're my daughters and sons. >> reporter: officials say they have to make frequent vits to build up trust and spot signs of trouble. they say they haven't seen any suicides since they started the program. they know more people need help. but they have a limited budget and few staff. >> translator: people who are less well off tend to have health issues or look sad. i worry that no matter how hard we try, the suicide could happen. >> reporter: he says he and his colleagues know that there's a problem as soon as they step in the door. the people he sees aren't asking for much. just a little dignity near the end of their lives.
college students have a rare chance to learn japanese theater in malaysia. 20 students were invited on stage. they were shown how actors move and holding their neck stiff. the students mimicked his movements and exaggerated laughter. they followed the lesson with a performance of a comedy. it's the story of a master who orders servants not to eat sugar
telling them it's poisonous. they ignore his instructions and later act innocent. >> translator: i want to show how it it's expressed through time and language like a mirror that reflects human nature. >> he said he was happy students elsewhere can appreciate the humor in japanese culture. government officials hope to lead an nick turn around by reving red pe. theiderelatinghe retail sector trying to attract foreign retailers to open stores. media have dubbed the policy the big bang reform. people who own shops are less enthusiastic.
>> reporter: massive rallies took place across india in september to protest against the planned reforms. many small shop owners are worried that deregulation threatens their businesses. about 40 million people work in india's rebuilt industries. for decades the sector was considered a sacred cow, except -- exempt from deregulation. most businesses are small and independent. they see a growing sense of crisis that they won't be able to compete with large foreign chains. the government hopes new investment will lead to improvement in india's old fashion distribution system. some indian businesses use trucks to transport goods. others still rely on horse drawn cars.
poor roads mean perishable items go bad enroute. and the country doesn't have enough warehouses to stop food tting before it gets to the store. the cost of spoiled produce adds to the prices for consumers. to improve the situation, the prime minister is asking the public to support foreign investment. western retail giants are preparing to expand. this store was started by the american supermarket chain walmart. more than 5,000 products are available here. but are not sold directly to the consumers. this store has a membership system. smaller grocery shops and
restaurants are its main customers. the company says it can serve products at lower prices by purchasing directly from producers. it's making preparations to open shop for individual consumers. the government's deregulation plan encourages foreign retailers to invest. but that's not good news for everyone. it will transform the country distribution system but that's not good news for everyone.
raj is a wholesaler of tangerines and other agricultural products. he's concerned he might go out of business if foreign countries start buying directly. >> translator: foreign firms make direct purchases from farmers. they don't use wholesalers like us. we've been doing business for farmers for 30 to 40 years. foreign businesses are breaking our long-staing relationships. >> reporter: the indian government faces fierce opposition to its efforts to reform the nation's distribution infrastructure. potential investors are watching to see whether it can overcome resistance and rejuvenate the retail market. people in the philippines are dealing with stormy wther
afr a typhoon made weather there. >> it's too close to the equator. cyclones develop in this area. packing sustained winds of 162 kilometers per hour with gusts up to 230. it's going to move through for the next several hours and head out by tomorrow morning. rainfall could be quite huge. wide area with local my more rev rain possible. it's not prepared for heavy typhoon rain. six meters along the coast that could cost them coastal flooding the as well.
we'll keep you posted on the storm's progress. most of the clouds are blanketing the eastern half of japan. a couple of systems are bringing thunderstorms, gust twinds bs. we have reports of 70 millimeters rain per three hours. gusts of 100 kilometers per hour. waves could hit six meters along the coast. tokyo will turn sunny this afternoon. instead strong northwesterly winds will produce breezy conditions throughout the nation and heavy snow along the north western flank of the nation. 30 to 40 centimeters likely from tonight to tomorrow morning.
a new system will form and produce snow hoshowers around seoul. rain will also spread into the southern islands of japan. midwinter like weather is affecting the north. zero degs in seoul. it's a different story. tokyo rising to 14 degrees. let's go over to the american continent. the series of pacific storm systems in the west coast bringing stormy weather. significant rainfall has caused roads to to be inendaenindate d of oregon are experiencing dry conditions. the next storm system is on its way. rainfall total could reach 230 millimeters in parts of oregon